Stocks on Track for Positive Finish in May Even as U.S. Futures Slip
NEW YORK (TheStreet) -- U.S. stock futures were slipping on Friday as markets digested disappointing home sales data and a negative result for first-quarter GDP released a day earlier.
However, even as futures point to slight softness over the session, markets were looking to close historically weak May on a high, with the S&P 500 popping nearly 2% over the month.
Dow Jones Industrial Average futures were down 9 points, or 0.05%, to 16,672, while Nasdaq futures were dipping 1.75 points, or 0.05%, to 3,733.75. S&P 500 futures were 1.5 points, or 0.08%, lower to 1,916.5.
- International markets were mixed with the FTSE 100 down 0.16% and the DAX nudged 0.01% higher. At the close, the Nikkei 225 had dropped 0.34%, and the Hong Kong Hang Seng added 0.31%.
- Shares of Big Lots (BIG) were spiking 6.3% before the bell following a positive earnings report. The company earned 50 cents a share, 6 cents higher than Thomson Reuters estimates.
- Infoblox (BLOX) was tanking 32% after the networks company guided for fourth-quarter earnings of break-even to 2 cents a share, below a consensus EPS of 5 cents. Separately, CEO Robert Thomas also announced his resignation.
- Express (EXPR) shares were dropping 13.1% after the clothing retailer warned a challenging first half would weigh on full-year results. Management guided for earnings between 74 cents and 90 cents a share missing forecasts of $1.14.
- In economic news, personal income and spending data for April is due out at 8:30 a.m. EDT, with analysts expecting a slight slowdown in growth to 0.3% and 0.2%, respectively.
- Later Friday, the Chicago PMI for May will be released at 9:45 a.m. Economists forecast a 2-point fall to 61. Shortly after, the University of Michigan consumer sentiment data will be out with an expected increase to 82.5 from 81.8.
>>Read More: Why Smart TV Shipments are Growing>>Read More: The Seven Deadly Sins of Biotech Investing >>Read More: This Time It's For Real: Apple Has Killed Pandora --Written by Keris Alison Lahiff in New York.
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